The Cabinet approves a budget of 2,936 million baht, the annual rice insurance program covers 7 disasters, 46 million rai, 1,260 baht per rai, BAAC customers, the premium of 96 baht per rai, the government subsidizes insurance premiums of 58 baht per rai, general farmers – Bank customers. The SEC increases the low risk area premium of 55 baht per rai, medium risk 210 baht per rai, high risk 230 baht per rai, the government subsidizes insurance premiums 55 baht per rai.
On March 30, 2021 at the Government House, Ms. Ratchada Thanadirek, Deputy Spokesman for the Prime Minister’s Office. Announced the results of the Cabinet meeting (Cabinet) that the Cabinet approved the annual rice insurance program, the production year 2021, the total insurance area of 46 million rai under the amount of 2,936 million baht to provide farmers with tools to manage the risks of Disasters through the insurance system The Bank for Agriculture and Agricultural Cooperatives (BAAC) advances the subsidy payment for insurance premiums on behalf of the government and disbursements according to the actual amount paid.
For the project, the production year 2021 is the 10th successive project with most of the operations are similar to that of 2020 by adjusting the premium rate for BAAC loan customers by 1 baht down (from 97 baht / rai to 96 Baht / rai) and adjusted the premium rate for BAAC customers who purchase additional insurance and are in a low-risk area, decreasing by 3 baht (from 58 baht / rai to 55 baht / rai) with the details as follows:
The annual rice insurance program for production year 2021 has a total insurance target area of 46 million rai with the following insurance premium rates
1. Tier 1 basic insurance premium is determined according to the actual risk of farmers totaling 45 million rai, divided into 1. All BAAC customers, the insurance premium is 96 baht per rai (total 28 million rai), with the government subsidizing the insurance premium. Give 58 baht per rai and BAAC subsidizes 38 baht per rai (excluding stamps and VAT).
2. General farmers And BAAC credit customers who purchase additional premiums in low-risk areas, 55 baht per rai, medium-risk areas 210 baht per rai and high-risk areas 230 baht per rai (total 17 million rai), with the government subsidizing the premium. Provides 55 baht per rai (excluding stamp and VAT) by covering the risk of 7 natural disasters, 1,260 baht per rai, including: 1. Flood or heavy rain 2. Drought, drought or drought during the period. 3. Stormy winds or typhoons 4. The threat of cold weather Or frost 5. hail 6. fires 7. wild elephants and pests or plague 630 baht per rai
2. Tier 2 voluntary insurance premiums are determined based on the actual risk of farmers in the amount of 1 million rai, which farmers have to pay themselves. Divided into low-risk areas, 24 baht per rai, medium-risk areas 48 baht per rai and high-risk areas 101 baht per rai, with protection from 7 natural disasters, 240 baht per rai and 120 baht per rai.
Policy sales operations will vary by region, namely Central, East and Northeast (Group 1) by 30 April 2021, North and Northeast (Group 2) by 31 May 2021, Western Region. By 30 June 2021 and the South by 31 December 2021
From the results of the project operation in the production year 2020 as of December 31, 2020, there are 3.30 million Tier 1 farmers with a total area of 44.36 million rai.
For additional insurance, Tier 2 has a total of 3.33 thousand agricultural insurance, a total area of 4.79 hundred rai, including premiums of both types of 4.04 billion baht and 3.67 billion farmers’ compensation claims, amounting to 516 million baht.
Ms. Ratchada said The government requests to publicize that farmers join in insurance for rice paddies In order to reduce the losses in the event of damage from natural disasters and pests or epidemics, the meeting also agreed to the relevant agencies to study the possibility of reducing the proportion of government subsidies to pay premiums. insurance So that the insurance system is generally tradable Like car insurance or accident To reduce the burden of the state budget